We study real-efficiency implications of disclosing public information in a model with multiple dimensions of uncertainty where market prices convey information to a real decision maker. Paradoxically, when disclosure is about a variable that the real decision maker cares to learn, disclosure...

Prior research generally interprets complex language in firms' disclosures as indicative of managerial obfuscation. However, complex language can also reflect the provision of complex information, e.g., informative technical disclosure. As a consequence, linguistic complexity commingles two...

Corporate social responsibility (CSR) disclosures are becoming more prevalent among firms. We investigate the predisposition of firms to disclose CSR information and find that firms are likely to disclose more in countries with: better investor protection, higher levels of democracy, more...

In this study, we explore the association between company reputation and voluntary disclosure quality as proxied for by the issuance and characteristics of management earnings forecasts. We follow prior literature and proxy for company reputation using measures based on Fortune's America's Most...

We develop a unified treatment of a broad class of truthful disclosure games. Such games have, at most, one equilibrium that is reasonable given a commonly used signaling refinement. We provide a simple algorithm to construct the unique equilibrium strategy and beliefs, and identify necessary...

The objective of voluntary disclosure regulation is to mitigate information asymmetry between the management and outside users. However, prior studies on voluntary disclosures provide mixed evidences on managers' incentives. Using a setting of voluntary non-GAAP EPS reporting, this study...

The article examines how Risk Narrative Disclosures (RNDs) are utilized by United Arab Emirates (UAE) listed financial institutions. It uses legitimacy theory to link UAE stakeholder expectations to RNDs published by UAE financial institutions. Drawing on institutional theory and impression...

Two–way communication via social media platforms allows the firm to make an initial disclosure decision and then revise it after observing the response on social media to its initial decision. We examine the pressures interactive communications place on disclosure choices and find that...

Collaboration between NGOs and corporations is an expanding research area that brings up new questions. The paper seeks to establish the scope of information on philanthropic cooperation revealed by corporations and charitable organizations in a transition country (Poland) and its...

This study examines the effects of the interactions among IFRS adoption, analyst coverage and cross-listings in the U.S. on the voluntary disclosure of Brazilian public companies. We document a significant positive shift on voluntary disclosure incentives among cross-listed firms from the IFRS...